Why not live in your own home? Why this is the right time to buy a home on the Monterey Peninsula; Pacific Grove, Monterey,Carmel, Carmel Valley or Pebble Beach.
1) Homes are more affordable. Prices have come down anywhere between 28%-45%
2) Rates are historically low. We keep hearing about how rates will start creeping up, but so far..not really. I have a quote in front of me for 30 year fixed conforming, no points 4.625%. Not bad.
3) Timing is right. The conforming loan limits will be reduced on Oct.1, 2011. This will reduce both the affordability and availability of many home buyers.
4) Homeownership is still the American Dream for nearly 9 out of 10 Americans.
5) Financing IS available for buyers with stated income, at least 3.5% down payment and a good credit score